Italy to raise taxes for flat owners doing multiple short-term rentals By Reuters

© Reuters. File picture: A view reveals Milan’s skyline throughout sundown in Milan, Italy, July 6, 2023. REUTERS/Claudia Greco/File picture

ROME (Reuters) – Italy’s authorities plans to hike taxes on short-term leases by individuals letting out a couple of flat, a draft of the 2024 finances seen by Reuters confirmed on Saturday.

The transfer comes within the wake of criticism of Airbnb and different short-term rental platforms for contributing to a scarcity of inexpensive housing for residents in the most well-liked vacationer locations.

Italian laws permits homeowners to hire out their flats and pay a tax charge of 21% on earnings.

Prime Minister Giorgia Meloni intends to lift that band to 26% “within the case of the short-term rental of a couple of condo in every tax interval,” the draft confirmed.

Nonetheless, the federal government has scaled again its preliminary plans as earlier drafts reported by Reuters envisaged elevated taxation additionally making use of to short-term leases of single flats.

Meloni instructed reporters on Saturday that the finances invoice for 2024 agreed by her cupboard can be put earlier than parliament on Monday. The approval course of is predicted to take till December.